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Healthcare Data Security Reports from the West reveal Value of Data

Healthcare Data Security Reports from the West reveal Value of Data

Patient privacy and data security rules have significant implications for the healthcare sector. More  so, with ICT becoming the foundation for enhanced healthcare delivery and innovative healthcare models. With patient data moving online and to the cloud, and disseminated on multiple devices, the  opportunities for theft and compromise are clear and present. But what is the present state of healthcare data privacy and security?

Here are some interesting findings of a recent study which covered the current US cyber security landscape in the healthcare industry:

65% of healthcare organisations have no protection services in place for patients whose medical records have been stolen or lost.

It appears as if an increase in cyber threats hasn't served as a strong enough deterrent to healthcare organisations, a majority of whom do not offer any kind of medical identity monitoring and identity restoration service to affected patients. Ironically, the same percentage of healthcare organisations admit that patients whose medical records have been stolen or lost are at a greater risk of medical identity theft.

Many healthcare organisations use an ad hoc risk assessment process

An ad hoc approach to managing and assessing data breaches is never enough to implement appropriate preventive measures and improve the overall outcome of the organisation's data security initiatives. Healthcare organisations in the the United States are required by the HIPAA Final Rule to follow a four-factor risk assessment process after each security incident. The study showed that only half the number of healthcare organisations conducted this assessment, while the rest used either an ad hoc approach or an internal tool/process.

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The average cost of healthcare data breach has been consistent over the past five years

At $2.1 million, the cost of data breaches in the healthcare sector has stayed consistent. The study found that a majority of data breaches involved stolen or lost devices owing to employee negligence. A greater emphasis on employee education and training can lower this number.

Healthcare and the cloud

Cloud adoption has helped the healthcare industry manage data better, decrease capital expenditure, and personalise healthcare. Asia Pacific has been quick to explore innovative healthcare solutions for enhances patient-centric care.

Healthcare cloud has caught the fancy of CIOs, with the market for software-as-as-service (SaaS) and infrastructure-as-a-service (IaaS) expected to grow at a compounded annual growth rate of 22.3% between 2012 and 2018, according to recent research.

With the cloud comes the issue of security, and this is where healthcare IT vendors are finding it difficult to convince CIOs to move to the public or hybrid clouds, as many other industries/sectors have already done.

That explains healthcare's cautious investment in only private clouds. It is to be seen whether or not the risk-averse attitude to public and hybrid cloud technologies will change in the near future.

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Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

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As a Titanium Black Partner of Dell Technologies, CTC Global Singapore boasts unparalleled access to resources.

Established in 1972, we bring 52 years of experience to the table, solidifying our position as a leading IT solutions provider in Singapore. With over 300 qualified IT professionals, we are dedicated to delivering integrated solutions that empower your organization in key areas such as Automation & AI, Cyber Security, App Modernization & Data Analytics, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Renowned for our consulting expertise and delivering expert IT solutions, CTC Global Singapore has become the preferred IT outsourcing partner for businesses across Singapore.

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Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

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SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

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HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

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IBM is a leading global hybrid cloud and AI, and consulting services provider, helping clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,800 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently, and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity, and service. For more information, visit www.ibm.com